‘court’ asks a great question so I thought I’d post it here with an answer – enjoy:

I do not understand the effect of dummy variables in seasonal forcasting. WHat if I have a gift shop in a seasonal resort area that makes good money in summer, but not much in spring, fall and winter? If I were to do some forcasting with this business, whet effect would I get from puting in dummy variables as opposed to leaving out the dummy variables?

Answer: You’d wind up paying higher insurance costs for the dummy variables. Just fire their lazy asses. Who needs any more goddamn dummies running around?

Tagged:Economics

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